Invited by Sinniyom Company Group (SNY), ACEG delegation headed by Mr. Hu Yuncheng, Chairman and President, with Mr. Wu Kang, General Manager of Overseas Development Company, took a 5-day business visit to Vientiane, Capital of Lao P.D.R. from July 5th to 9th 2010.
At the first meeting, Mr. ViengXay Bounthalath, Chairman &President of SNY outlined to the delegations the infrastructure projects of top priority according to Lao’s economic development plan. Following a full exchange of views of the two sides, Mr. Hu signed on behalf of ACEG with SNY, Memorandum of Understanding serving as a framework for joint business cooperation (JBC) in Lao P.D.R. And, in follow-up to the MOU-JBC, also MOU to develop initial projects with amount about US$ 500 Million. Meanwhile, the delegation surveyed the areas in Vientiane Municipality and Vientiane Capital where upgrading and expansion including Road #12 are approved by the Lao Government.
ACEG’s present visit received support from Economic and Commercial Counsellor’s Office of the Embassy of P. R. China in the People’s Democratic Republic of Laos, and was highly valued by the Lao Government as well. During the visit, officials from relevant departments including Economic Planning and Finance, Ministry of Planning and Investment and Ministry of Public Works and Transport introduced Lao government policies and procedures for projects financed with funds from other countries including China and expressed their appreciation of ACEG’s joint business collaboration with local partner which the GOL supports.
Before leaving Vientiane, the incumbent Chairman of the Prime Minister’s Office, Prof. Dr. Vongdara Boviengkham met Mr. Hu.